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The Wall Street Journal recently had an article about a “housing stress indicator” that compares many U.S. cities and their pain and continuing vulnerability in the ongoing real estate downturn. Continue reading
Foreclosures are up, but let’s keep a little perspective — 99.7% of American property owners did NOT receive a foreclosure notice last month. Continue reading
Prospective home buyers have an incredible opportunity right now — increased listing inventory, record-low mortgage rates, and stable or slightly increasing demand that should push prices up over the next six to twelve months. Those who choose to sit out this part of the market cycle are likely to look back in two years and say, “I should have moved then.” Continue reading
Road and utilities preparation could begin this year, and the entire development could ultimately include 5,000 homes and townhomes, 2,600 apartments, 2 million square feet of office and retail space, and 700 acres of parks and open space. Continue reading
The $500,000-and-up went from 7% of the Austin/Central Texas single
family market a year ago to 12% in the last month! Continue reading
Much has been made in the press lately about the fall-off in home sales from June to July 2010, with home sales down 27% nationally. My first reaction is, “Duh!” Continue reading
It may be that a comprehensive survey of home builders in the Austin area will show that they lost confidence in August, just as reported nationally. The builders I talk to, however, while cautious, aren’t waiting for the sky to fall, and this recent market performance is relatively positive given conditions in other places. Continue reading
The national press continues to highlight “opportunities” in real estate markets that have been hit hardest by the recession. I continue to get calls from prospective investors who expect the same market conditions in Austin and Central Texas. The good news is that Austin is different. The bad news is that Austin is different. It’s all a matter of perspective. Continue reading
Texas has not felt this recession and housing downturn in the same way that California, Arizona, Nevada, and Florida have. This article from Tierra Grande magazine focuses on the housing affordability factor and offers some important insights. Continue reading
The number of new contracts signed in May and June in the Austin Metro area were down significantly from the April peak created by tax incentives, but there is still residual demand. August data may tell whether a trend is developing. Continue reading
